Tuesday, August 15, 2006

Inman - "Survey: Nontraditional loans more popular than subprime" (8-15-06)

"Loan officers say both types of loans performing as expected or better"

"Of the 30 domestic banks with subprime residential mortgages on their books, nearly three-fourths said they accounted for less than 5 percent of their mortgage portfolios. One-fifth reported the share of such subprime loans was between 5 percent and 15 percent. Only three banks, or 10 percent of those surveyed, said subprime loans made up more than 20 percent of the mortgages on their books."

"The July 2006 Senior Loan Officer Opinion Survey on Bank Lending Practices is available on the Federal Reserve Board's Web site"

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